Plains All American Pipeline, L.P. (NYSE:PAA) is Kayne Anderson Capital Advisors LP’s 8th Largest Position

Kayne Anderson Capital Advisors LP reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,297,382 shares of the pipeline company’s stock after selling 195,068 shares during the period. Plains All American Pipeline accounts for about 4.4% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 8th largest holding. Kayne Anderson Capital Advisors LP owned approximately 1.33% of Plains All American Pipeline worth $140,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. CENTRAL TRUST Co boosted its position in shares of Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Plains All American Pipeline during the fourth quarter worth $39,000. Briaud Financial Planning Inc purchased a new position in shares of Plains All American Pipeline during the third quarter worth $58,000. Provence Wealth Management Group acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at $62,000. Finally, Allworth Financial LP raised its holdings in shares of Plains All American Pipeline by 451.1% in the 3rd quarter. Allworth Financial LP now owns 6,244 shares of the pipeline company’s stock valued at $96,000 after buying an additional 5,111 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Up 0.1 %

NYSE PAA traded up $0.01 during trading on Thursday, reaching $17.67. 316,605 shares of the company’s stock were exchanged, compared to its average volume of 3,411,203. The company has a 50 day moving average price of $17.42 and a two-hundred day moving average price of $16.18. The stock has a market cap of $12.39 billion, a P/E ratio of 15.22 and a beta of 1.58. Plains All American Pipeline, L.P. has a 1 year low of $12.50 and a 1 year high of $19.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.19%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 109.48%.

Analyst Upgrades and Downgrades

PAA has been the subject of several research reports. Scotiabank began coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price for the company. UBS Group upped their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. The Goldman Sachs Group raised their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Truist Financial upped their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, TD Securities lifted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.15.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.